Bills acquire $32M cap room by restructuring Josh Allen and Von Miller agreements.

A source tells ESPN's Field Yates that the Buffalo Bills had restructured quarterback Josh Allen and pass rusher Von Miller's contracts to create $32 million in salary space with the league year starting in two days.

The Bills opened Monday, the first day of negotiations, $19 million over the 2023 cap (they have an adjusted cap of $227 million). 

The team's cap compliance and room to operate with were easiest to achieve by restructuring Allen and Miller's deals. The quarterback will account for $39.8 million against the cap and $27.5 million in base salary in 2023, the first substantial increase to his 2021 agreement.

Miller's 2023 basic salary was $1.3 million and cap hit of $18.6 million, third on the club behind wide receiver Stefon Diggs. 

The Bills restructured the two large cap hits because they are committed to Allen for the long haul and committed to the pass rusher coming off major ACL surgery through 2024, but they could opt out of the six-year deal in 2026.

Yates said the team restructured Diggs' deal on Tuesday and converted portion of his base pay into an incentive to open up $5.4 million in cap space.

Last year, Diggs signed a four-year, $104 million contract extension until 2027. The Bills need linebacker, safety, backup quarterback, running back, and wide receiver/tight end, but they have limited space to fill out the roster.

Over the weekend, the Bills signed linebacker Matt Milano to a two-year agreement, freeing about $6 million in cap room. Milano works for the team till 2026. The team adjusted defensive tackle Tim Settle's contract to open $600,000 in 2023.

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